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  • Govt scraps small business tax breaks | Business Spectator
    the Australian Taxation Office s website dated December 18 says the change is expected to come into effect on January 1 Business representatives from the Australian Chamber of Commerce and Industry and the Australian Industry Group have told the government that they d like to see the asset write off funded in the next federal budget Print this page Related articles 13 Jan Govt interest bills surging report 13 Jan Abbott to pursue red tape cuts 13 Jan Palmer wants to repeal Newman laws 12 Jan Vic energy minister to step down 12 Jan Trade pact is close Robb More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Silvano Porcaro Wed 2014 01 01 09 29 The new normal commitment made commitment honoured Doug DJ LoneRider Thu 2014 01 02 08 48 Maybe small business the one sector in Australia that most of the employment is centered Gets skewed by the Despots Maybe they should try political party donations to the LNP then they might get the same commitments made and honoured as do the mining and financial sectors True unemployment unemployment under employment is 13 6 and rising Colin Barry Thu 2014 01 02 10 14 Doug you are aware that Labor promised tax breaks for SME s but spent the money to avoid a recession during the GFC and sending Australia spiralling towards a depression They then put tax breaks for SME s back on the table saying the MRRT will raise the necessary money that failed So the Coalition won government found the books worse then Labor was telling everyone but will keep their promise to rescind this erroneous tax but in doing so must also reverse some of the commitments Labor promised they would use the MRRT on and as you rightfully said promises that they would fulfil And on the rising REAL unemployment figures Doug I think you will find it s because Australia is uncompetitive not just with developing nations but developed first world nations And why do you think we are in this position do you think it has something to do with Holden workers being paid up to twice the AWARD rates Maybe it s these sweet heart deals between unions and big business which could be described as legalised extortion if you ask me no industrial action if you sign his agreement Further more Doug do you think unions Labor are interested in SME s Since the abolition of compulsory unionism membership has dropped by 80 Are unions going to waste their resources on business that employ 1 to 50 employees no they are not I may seem a union basher to many but many years ago I was well as they said sacked from my job after 19 5 years They were going to invoke a clause that would have seen me lose all my accrued long service leave the relative union said they couldn t help me so I did it on my own and was successful in getting my entitlement To this day I still believe they thought I would just accept it and go away but I didn t because I believed they can t just wipe away entitlements But the big thing was that the union queried how I got on then asked how I did it No I don t have much time for present day unions and I think all those that support unions these days but are not members are hypocrites Doug DJ LoneRider Thu 2014 01 02 11 02 Oh Collin Inn this conversation you are the only one to bring up the other far right organizations the unions Fact 1 the MRRT was to attack pure Despotism and to break the recourse curse that has plagued canberra since PM Coward began his theocratic nationalist reign Fact 2 SME sector produceses a greater amount of value added productivity Than merely selling dirt does or can do Fact 3 The SME sector is the greatest employer in Australia with over 70 of employment is within The SME sector Rember this true right wing is despotism All for the ruling class first then to use the trickle down effect Colin Barry Thu 2014 01 02 12 42 Am I reading this correctly Doug unions are the far right If the unions support Labor than they must also be a far right wing political party That leaves the Coalition as a left wing party or at the very least a moderate party I agree on facts 1 2 and 3 Our SME sector certainly needs help but it has to come in the form of viability and the only way this can happen is if the left wing unions allow amendments to the industrial relations act by removing some of these ludicrous restrictions And by the way since when can you call mining companies the sole ruling class no the MRRT was a stupid tax introduced by a desperate government that had no idea what they were doing What we have in Australia is capitalist democracy free election every three years not a dictatorship whereby if elections are held your ballot paper is assessed by someone carrying an AK14 If you want to change the government you know what role you can play vote Labor Greens or whoever just not LNP Doug DJ LoneRider Fri 2014 01 03 03 28 Oh Dear Collin You need to Edify yourself on the true meaning of the Left v Right political spectrum I did not say the mining industry was the sole ruling class what I said was the the MRRT was an attack on pure despotism and an attempt to break the mining resources cures that has plagued Canberra since PM Cowards reign As far as your democracy rant is concerned we can get into a major discussion about

    Original URL path: http://www.businessspectator.com.au/news/2013/12/31/national-affairs/govt-scraps-small-business-tax-breaks (2014-01-12)
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  • Sinodinos eyes super, tax shake-up | Business Spectator
    must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Assistant Treasurer Arthur Sinodinos is eyeing a shake up of Australia s 1 6 trillion superannuation system as well as tax structures to better accommodate people s changing needs at different times of their lives The Australian Financial Review reports If I had one personal aspiration about superannuation it s that ultimately we have a system which is better adapted to the life cycle of people so that we better match when people can save for super when they have the capacity to save for super and that our tax and regulatory systems recognise that Mr Sinodinos told the newspaper We have to recognise that there are times in your life when you want to dissave household formation family formation and there times when you have maximum capacity to save for retirement Mr Sinodinos said the government was still considering tax reform but that a coalition of the willing was needed consisting of key stakeholders in business the union movement and within communities to get the ball rolling on issues such as lowering the company tax rate the AFR reports However Mr Sinodinos said consultation for the Coalition s tax white paper was unlikely to begin until late 2014 following the Commission of Audit the newspaper reports Print this page Related articles 10 Jan NAB could consider MLC split report 08 Jan New bank rules help small lenders 07 Jan Planners to have strong 2014 07 Jan Investment banks reformed Rankin 06 Jan JPMorgan to pay 2bn in Madoff probe More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Dave Fri 2013 12 27 10 06 Get moving for God s sake We had the Henry review thrown in the bin by Rudd who probably didn t even read it Get that out and implement it If that s too big just rescind the Howard government tax bribes and that will give you time to dither around with yet another review We don t like getting things done in this country do we Ian Macallan Sun 2013 12 29 01 47 Joan Nah just relax she ll be right somebody somewhere will get around to it one day Cracks open another VB and hands it to her and turns up the volume on the Chinese made flat plasma screen with the Korean made remote control to tune into the cricket whilst sitting on the Indian cotton covered Tasmanian hardwood couch manufactured in Indonesia and imported

    Original URL path: http://www.businessspectator.com.au/news/2013/12/27/financial-services/sinodinos-eyes-super-tax-shake (2014-01-12)
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  • ATO chases cash cheats | Business Spectator
    Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu ATO chases cash cheats 17 Dec 2013 7 01 AM Economy Tax Small businesses operating in cash economy becoming more visible report You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The Australian Taxation Office ATO is cracking down on small businesses that operate in the cash economy to dodge tax according to The Australian Financial Review A data matching program will reportedly see figures from around 900 000 companies compared to ATO records and the records of major banks and credit card providers Businesses operating in the cash economy undermine Australia s taxation and superannuation systems an ATO spokeswoman told the AFR These businesses are becoming more visible to us as our data matching activities become more sophisticated The data matching program began five years ago Print this page Related articles 08 Jan Australia risks missing tech boom 03 Jan KPMG chair urges govt on costs 03 Jan WA to block online GST plan 31 Dec Govt scraps small business tax breaks 27 Dec Sinodinos eyes super tax shake up More from Business Spectator Technology Adapt or die Commercial The Future of Energy

    Original URL path: http://www.businessspectator.com.au/news/2013/12/17/tax/ato-chases-cash-cheats (2014-01-12)
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  • Tax reform top priority: survey | Business Spectator
    Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Taxation reform in particular the broadening of the Goods and Services Tax GST should be the top priority of a first term Abbott government according to a private survey The CEDA Business Spectator 2013 Big Issues survey also showed a desire for the enhancement of productivity competitiveness and innovation through policy decisions More than 1 250 people took part in the survey which commenced at the beginning of December CEDA chief executive officer Professor Stephen Martin said the survey indicated that more than 70 per cent of respondents agreed that tax reform is needed in the first term of government and not to be delayed by using the mandate excuse In the first few months of the new federal government there has been an avalanche of new reviews announced he said The previous government also conducted a number of significant reviews but little was implemented Critically it is most unlikely another review of the taxation system will unearth any new recommendations that have not been made previously Professor Martin said more than 50 per cent of respondents agreed that taxation reform should be revenue enhancing suggesting increasing concern about the rising deficit Forty per cent of respondents believed reforms should be revenue neutral The priorities for taxation reform are broadening the GST base and reducing tax rates for low income workers to encourage more people to work he said Previous CEDA research has found that broadening the GST or increasing the rate or both should be a priority for the federal government to allow for the removal of inefficient taxes and these results show it is an area gaining support across the business community To increase innovation respondents top responses were providing tax breaks for innovative practices and providing incentives to universities to work more closely with industry Big Issues survey results 2013 pdf Big Issues survey results 2013 pdf Print this page Related articles 13 Jan Iran nuke deal to take effect 13 Jan Govt interest bills surging report 13 Jan Abbott to pursue red tape cuts 13 Jan Palmer wants to repeal Newman laws 12 Jan Israel s Sharon dead at 85 More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Alan Cameron Mon 2013 12 16 11 53 A GST on more items particularly food and any increase in the rate will hurt low income people far more than it will the high income people How reducing the low income tax rate will get more people to seek jobs escapes me Maybe more people will be employed for one hour a week That would make government deceit in their statistics look better I guess that advice would appeal to the government Gavin Putland Mon

    Original URL path: http://www.businessspectator.com.au/news/2013/12/16/politics/tax-reform-top-priority-survey (2014-01-12)
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  • Govt must consider tolls: BCA | Business Spectator
    this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The Business Council of Australia BCA is set to release a report Friday that calls on politicians to put productivity growth at the top of policy agendas even if it requires user pay charges such as tolls and greater privatisation according to The Australian The report will estimate that private spending will have to rise to 400 billion over the next decade if the more than 760 million that is needed for roads railways ports and utilities is to be delivered The BCA said tolls and other forms of user payments although unpopular will be required as a part of public projects if the projects are to be completed Under this approach the community s limited capital is effectively redeployed into paying for new infrastructure that will make their lives better the report says according to The Australian Print this page Related articles 06 Jan Govt asset sales needed Sims 03 Jan KPMG chair urges govt on costs 24 Dec Slower growth could be the new normal 13 Dec Productivity is biggest challenge NSW 11 Dec Abbott is manufacturing a jobs disaster More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy Steven lastName Fri 2013 11 29 10 05 Road Tolls how much more does the business sector think it can load onto the shoulders of the average person we have had enough now off being ripped off go to hell I say As for greater privatisation I am a person that has worked in both the government and private sectors the majority of time in private and let me asure you that private sector has just as many negative issues as does the government They are not the saviour of everything they simply cannot do things better and cheaper without substantial cuts in services being provided So enough of the B S because that it is all it is Steven lastName Fri 2013 11 29 10 21 The more that Ihay in taxes and charges the less that I end up with having to spend which will directly impact business But it seems because of their never ending greed they are simply to stupid to recognize that R Ambrose Raven Fri 2013 11 29 13 23 Professor John Goldberg found that investors put 23 billion into 11 toll roads across Australia since 1994 for a small or negative return on equity in each case The Courier Mail reports him writing The public private partnership concept has failed in Australia and

    Original URL path: http://www.businessspectator.com.au/news/2013/11/29/productivity/govt-must-consider-tolls-bca (2014-01-12)
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  • Treasurers eye online GST changes | Business Spectator
    to win a popularity contest he told reporters at Parliament House in Canberra No one envisaged when the GST was first established that online shopping would become as popular as it is Mr Baird said the extra funds could be put towards important spending areas such as hospitals South Australian Premier Jay Weatherill said the states were conscious that any change must collect more revenue than it cost to administer We don t want to export retail jobs overseas he said Tasmanian Premier Lara Giddings said changes to the 1000 threshold were inevitable Mr Hockey said he expected a cooperative meeting but declined to answer questions as he arrived at Parliament House for the meeting Prime Minister Tony Abbott said any change was a matter for the states The states are concerned to ensure that the retail sector remains strong and that jobs in retail remain protected he told reporters in Melbourne I think they are very important objectives Print this page Related articles 08 Jan Australia risks missing tech boom 03 Jan KPMG chair urges govt on costs 03 Jan WA to block online GST plan 31 Dec Govt scraps small business tax breaks 27 Dec Sinodinos eyes super tax shake up More from Business Spectator Technology Adapt or die Commercial The Future of Energy Family Business Alan Kohler s Family Business China China Spectator Please log in or register to post comments Comments on this article Comments Policy G King Wed 2013 11 27 10 24 Given my recent experience of an import of over the 1000 the GST assessment by Customs opening the invoice and entering it in a billing system cost me 100 even though it was imported by a major shipping company who did not charge any extra Given that this should be cost recovery it gives a benchmark for the handling cost per item in the current system Add a wooden crate and it adds 50 for a pest inspection The Inspirator Wed 2013 11 27 11 56 Look if lowering the exemption to say 1 50 is the dummy that ll shut Gerry up then so be it The impost won t make one iota of difference to consumer behaviour who enjoy the convenience variety and what still would be a very competitive price for imported product All consumers are trying to do is cut out the middleman that most often adds no value to the product Inger lastName Wed 2013 11 27 14 21 Until retailers in Australia stops charging ridiculous prices for items that can be bought at sometimes less than half price overseas lowering the GST threshold will make no difference I think a lot of Australians would be more likely to buy locally if they did not feel that the inflated prices here had more to do with greed than need from the end of retailers and I am not talking small brick and mortar stores here but the big ones I wonder if the reopening of Amazon com au will change that I am still waiting for the explanation why downloading from Itunes is more expensive because I live in Australia and hope that Amazon will not fall in that trap I love to support local national business but not at any cost R Ambrose Raven Wed 2013 11 27 15 49 There is a bigger issue Commonwealth State Financial Relations has been in need of its own summit for a decade Rather than promoting good government and enabling change it is often a barrier to good performance due to the strong financial position of the Commonwealth as funder versus the limited and dependent financial position of the states as provider 1 For example the federal 2012 13 budget does not provide for any growth in funding to the states despite stagnant GST revenue 2 Increasingly states have responsibilities they cannot afford Vertical fiscal imbalance has created increasingly obvious and increasingly severe problems in the truly important areas of government such as health and education Instead of each tier exercising the powers most appropriate to it government are prone to administrative duplication and buck passing Big problems cause more of a problem than little problems you follow Laurie Clark Wed 2013 11 27 16 35 So it s really just a ploy to try and increase revenue to the States Yet another example of the huge cost to us of Federation which was already obsolete by the middle of the 20th century How much longer will we have to support the duplication and inefficiency not to mention the constant bickering New Zealand made the right choice when they abolished their provinces in 1860 It might have made sense when the quickest way from Sydney to Melbourne was an ocean voyage of at least 3 days Kaz Melbourne Wed 2013 11 27 18 31 Considering that people mainly shop online for a the range be the convenience and c the big price differential that is far greater than 10 putting GST on online purchases won t stop consumers shopping online What it will do however is suck more money from consumers wallets leaving even less to be spent on goods and services in Australia And if you have to pay a parcel handling fee the idea will be to make it worthwhile and buy even more things online in one go or use a parcel consolidation service rather than buying single items Additionally it will be an open invitation to the likes of Amazon to physically set up in Australia as well as give go betweens like Tarazz a free kick More competition lower prices even less purchases made in retail stores and even less GST paid as we flock to these cheap international competitors I m curious as to how they plan to collect it On purchase what if I get a US agent to buy it for me On payment what if I use a US prepaid debit card or voucher purchased on ebay and paid for

    Original URL path: http://www.businessspectator.com.au/news/2013/11/27/tax/treasurers-eye-online-gst-changes (2014-01-12)
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  • ATO asks for Rinehart documents | Business Spectator
    else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu ATO asks for Rinehart documents 27 Nov 2013 12 53 PM Industries Resources and Energy Economy Tax Tax Office requests access to court documents in case over 5bn family trust You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password The Australian Taxation Office has asked the New South Wales Supreme Court for access to court documents in the case between mining magnate Gina Rinehart and her two eldest children over a 5 billion family trust The Australian Financial Review reports According to the newspaper the Tax Office asked for access over a year ago but was denied by the judge NSW Supreme Court judge Paul Brereton said today that the Commissioner of Taxation had asked for access to the court file the AFR reports Two of Ms Rinehart s children are alleging she breached her duty as trustee by telling them they would be bankrupted by capital gains liability if the family trust had vested in 2011 advice which was later called into question Print this page Related articles 13 Jan BHP faces buyback pressure 13 Jan Indonesia ban no issue Palmer 10 Jan OM Holdings CEO resigns 10 Jan Korea China jostle for Aust resources 10 Jan Fed govt should

    Original URL path: http://www.businessspectator.com.au/news/2013/11/27/resources-and-energy/ato-asks-rinehart-documents (2014-01-12)
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  • Online GST threshold clash looms | Business Spectator
    to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Online GST threshold clash looms 26 Nov 2013 4 54 AM 1 Politics Economy Tax Federal coalition Labor neutral on issue as states urge reforms You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Australian state governments led by both Labor and coalition premiers are uniting in their support for reforms to the application of the goods and services tax GST to online foreign purchases making it harder for the federal coalition government and Labor opposition to remain inactive on the issue according to The Australian Financial Review Earlier this week the federal opposition signalled it would not support proposed changes to the GST namely a lower GST threshold for online foreign purchases The issue will be put forward when the states and territories meet on Wednesday with Treasurer Joe Hockey at the first Standing Council on Federal Financial Relations meeting since the federal election The New South Wales NSW government has been leading the charge for reforms But South Australian Labor premier and treasurer Jay Weatherill has suggested he is willing to support reforms related to foreign online purchases the AFR reported He did say though that he does not support a separate NSW initiative to expand the GST to include other purchases We will be calling on Joe Hockey to rule out any expansion of the GST base to include food health and education Mr Weatherill told the AFR This would create a major burden for SA households and it is not a policy that the federal Liberal Party gained approval for at the last election He said GST reforms for online offshore shopping are needed as the current arrangements do put local retailers at a disadvantage which is hurting local jobs Print this page Related articles 13 Jan Iran nuke deal to take effect 13

    Original URL path: http://www.businessspectator.com.au/news/2013/11/26/politics/online-gst-threshold-clash-looms (2014-01-12)
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